The Ripple rate for the week increased by 20%, the causes
On Tuesday morning, November 6, on the market of cryptocurrencies, the most discussed news is the quotes Ripple of maximum monthly values. At the time of writing the review the price XPR/USD is at $0,5329. For a week the growth of the coin made up 20.22%, and market capitalization exceeded $21.5 billion
At the same time the value of Bitcoin grew by only +of 1.43% over the week, respectively, the growth Aldona Ripple surpasses it ten times, and that means growth must be sought not in General positive on the market, and the internal causes.
Events that influenced the growth of the token Ripple, is the launch platform CoinField Exchange, dissemination of technology xRapid, as well as plans for development in the middle East, as stated by the official representatives of the company.
After starting xRapid, on expectations which quotes XRP/USD has shown a pulse increase of more than 200% and even briefly took the place of the Ethereum largest cryptocurrency by market capitalization, followed by a strong sell with a price reduction on the 64%.
The character of the movement was so abrupt, and the fall of highs is so rapid that you could think about the implementation of the scheme Pump and Dump. However, in the case of Ripple plans to introduce xRapid was discussed a long time ago and the market acted on klassicheskomu rule of “buy on sluchaja – sell the fact”.
Now, however, the growth of quotations does not look like a short-term boost, but as the start of a long trend, when prices are rising more slowly and smoothly. Given the news picture, we can expect further growth and achieving $0,6106 on XRP/USD, but for forming a steady uptrend price will need to demonstrate the above growth, in this case, the target will be the $0,9280.
As mentioned above, support Ripple have news about the launch of the canadian platform CoinField Exchange. Ripple is the base currency of this site, where you will be able to join users in 61 countries.
By the end of 2018 billing company SendFriend supported by Mastercard and MIT Media Lab, will begin to use technology xRapid. This will allow a startup to make international transfers faster and cheaper.
As it became known during a speech Ripple on infrastructure innovation Dileep RAO spoke at the global Islamic economic summit, where he said that the company plans to seriously expand to the middle East. He said that the firm will open an office in Dubai. The specialist added that to the network RippleNet was signed by more than 200 financial institutions from around the world.
“International Financial Center”